# 12 U.S.C. § 611: Formation authorized; fiscal agents; depositaries in insular possessions

> Federal · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/usc_t12_s611

## Section

- **Citation:** 12 U.S.C. § 611
- **Heading:** Formation authorized; fiscal agents; depositaries in insular possessions
- **Jurisdiction:** Federal
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** July 23, 2026
- **Source:** Publisher's official text
- **Location:** Title 12—BANKS AND BANKING > CHAPTER 6—FOREIGN BANKING > SUBCHAPTER II—ORGANIZATION OF CORPORATIONS TO DO FOREIGN BANKING

## Text

Corporations to be organized for the purpose of engaging in international or foreign banking or other international or foreign financial operations, or in banking or other financial operations in a dependency or insular possession of the United States, either directly or through the agency, ownership or control of local institutions in foreign countries, or in such dependencies or insular possessions as provided by this subchapter and to act when required by the Secretary of the Treasury as fiscal agents of the United States, may be formed by any number of natural persons, not less in any case than five: Provided , That nothing in this subchapter shall be construed to deny the right of the Secretary of the Treasury to use any corporation organized under this subchapter as depositaries in Panama and the Panama Canal Zone, or other insular possessions and dependencies of the United States.

( Dec. 23, 1913, ch. 6, § 25A (par.), formerly § 25(a), as added Dec. 24, 1919, ch. 18 , 41 Stat. 378 ; amended Feb. 27, 1921, ch. 73 , 41 Stat. 1145 ; Proc. No. 2695, eff. July 4, 1946 , 11 F.R. 2517, 60 Stat. 1352 ; renumbered § 25A, Pub. L. 102–242, title I, § 142(e)(2) , Dec. 19, 1991 , 105 Stat. 2281 .)

## Nearby sections

- [12 U.S.C. § 601 Authorization; conditions and regulations](https://www.frixlaw.com/law-library/statutes/usc_t12_s601.md)
- [12 U.S.C. § 602 Reports and examinations](https://www.frixlaw.com/law-library/statutes/usc_t12_s602.md)
- [12 U.S.C. § 603 Restrictions imposed by Board of Governors of the Federal Reserve System on banks purchasing stock in corporations doing foreign business](https://www.frixlaw.com/law-library/statutes/usc_t12_s603.md)
- [12 U.S.C. § 604 Accounts of foreign branches; profit and loss](https://www.frixlaw.com/law-library/statutes/usc_t12_s604.md)
- [12 U.S.C. § 604a Regulations authorizing exercise by foreign branches of usual powers of local banks; restrictions](https://www.frixlaw.com/law-library/statutes/usc_t12_s604a.md)
- [12 U.S.C. § 605 Repealed. Aug. 23, 1935, ch. 614 , title III, § 329, 49 Stat. 717](https://www.frixlaw.com/law-library/statutes/usc_t12_s605.md)
- [12 U.S.C. § 611 Formation authorized; fiscal agents; depositaries in insular possessions](https://www.frixlaw.com/law-library/statutes/usc_t12_s611.md)
- [12 U.S.C. § 611a Statement of purposes; rules and regulations](https://www.frixlaw.com/law-library/statutes/usc_t12_s611a.md)
- [12 U.S.C. § 612 Articles of association; contents](https://www.frixlaw.com/law-library/statutes/usc_t12_s612.md)
- [12 U.S.C. § 613 Signing of articles of association; forwarding to and filing by Board of Governors of the Federal Reserve System; organization certificate; contents](https://www.frixlaw.com/law-library/statutes/usc_t12_s613.md)
- [12 U.S.C. § 614 Organization certificate; acknowledgment; forwarding to, filing, and approval by Board of Governors of the Federal Reserve System; permit to do business; body corporate; name; seal; corporate succession; contracts; suits; directors, officers, and employees; bylaws](https://www.frixlaw.com/law-library/statutes/usc_t12_s614.md)
- [12 U.S.C. § 615 Powers of corporation](https://www.frixlaw.com/law-library/statutes/usc_t12_s615.md)
- [12 U.S.C. § 616 Place of carrying on business; when business may be begun](https://www.frixlaw.com/law-library/statutes/usc_t12_s616.md)
- [12 U.S.C. § 617 Engaging in commerce or trade in commodities; price fixing; forfeiture of charter; acts forbidden to directors, officers, agents, or employees](https://www.frixlaw.com/law-library/statutes/usc_t12_s617.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/usc_t12_s611. Check the current official text before relying on it. Not legal advice.